The Reshoring Initiative's(LINK) 2024 Annual Report shows that reshoring and foreign direct investment (FDI) contributed to the creation of 244,000 new jobs in the U.S. manufacturing sector over the past year, bringing the total to 1.7 million jobs since 2010. Tariffs appear to be an increasing factor, with a 454 percent increase in the influence expected by 2025, while government incentives show…

The provinces of Ontario and Manitoba have formalized a new partnership aimed at enhancing interprovincial trade and economic cooperation.Through the signing of a Memorandum of Understanding (MOU), both governments have committed to working together to identify and remove trade barriers, align regulations, and create more opportunities for businesses to grow across provincial lines.The agreement…

Italy’s top industrial association, Confindustria, has raised alarms about the long-term economic consequences of the United States’ tariff policies. According to the association, these tariffs are generating significant uncertainty that could lead to a "structural crisis" in Italy's manufacturing sector, which is expected to be the hardest hit.Confindustria’s research highlights that the ongoing…

The automotive industry in Mexico is strategic worldwide, encompassing the manufacture of automobiles and auto parts. According to the Ministry of Economy, foreign direct investment is key to the development of the sector by operating 37 plants, 14 of which are of Japanese origin and 13 of U.S. origin.These assembly sites are the driving force behind Mexico's position as the fifth largest…

In response to potential tariffs from the U.S., the B.C. government has announced a $6.6 million investment to support the province’s food manufacturing sector. This funding aims to boost local production, create jobs, and strengthen food security by helping companies modernize their operations.The grants will support local businesses, enabling them to scale up their production capabilities and…

In the fourth quarter of 2024, machine tool orders saw a significant increase of 11.4% compared to the same period in 2023, according to the latest data from UCIMU-SISTEMI PER PRODURRE Study & Business Culture Centre. Despite the overall positive result, there remain several challenges for the sector moving forward.Key Q4 2024 Insights:Domestic Orders: Increased by 33.3% compared to Q4 2023 (…

Mexico's product exports grew at a year-on-year rate of 14.7% in July, to 54,788.6 million dollars, driven by manufacturing, Inegi reported on Tuesday.Imports amounted to US$54,860.5 million, an increase of 13.3%, leaving the country with a deficit of US$72 million in its trade balance.Mexico has developed its manufacturing sector with the dual objective of taking advantage of lower manufacturing…

Foreign Direct Investment (FDI) arrivals to Mexico registered a 7.2% inter-annual growth, to 31.1 billion dollars in the first semester of 2024, informed the Ministry of Economy.Of this total, 30.288 billion dollars correspond to reinvestment of profits, 909 million dollars to new investments, and -101 million dollars to intercompany accounts.New investments refer to FDI flows associated with…

The economic prospects of the U.S., Canada, and Mexico for the current year point to interesting opportunities for Italian machinery manufacturers. In fact, OECD1 forecasts indicate, for 2024, GDP growth of 2.1 percent in the US, 0.9 percent in Canada and 2.5 percent in Mexico. In addition, slowing inflation, in these countries, will allow for a reduction in monetary tightening and interest rates…

According to the Ministry of Economy, in the first five months of 2024, 127 investment announcements have been made in Mexico by foreign companies, generating a total expectation of 39.157 billion dollars.Fifty-one percent of the announcements were made by companies with capital of U.S. origin; followed by Germany, with 14%, and Argentina, with 11%. Eighty-seven percent of the total amount…